Layerswap is a tool that helps users bridge assets across Centralized Exchanges, blockchains, and wallets in minutes. It is the first and only bridge to help users directly transfer assets from centralized exchanges to Layer2 networks with low cost and fast transaction processing speed.
Currently, Layerswap is supporting more than 16 CEXs (such as Binance, Coinbase, Houbi, Kraken, Kucoin, OKX,…) and 11 Layer2 (Arbitrum, BNB, Loopring, Optimism, Starknet,…) with 7 types tokens (ETH, IMX, LRC, SNX, USDC, USDT, ZKS).
Layerswap is increasingly trying to expand its network with a variety of partners on Layer2, up to now partnering with ImmutableX, Argent, imToken, Optimism, Loopring, zkSync, Starkgate, Braavos Wallet, PERP exchange.
Bransfer develops Layerswap – the company that develops instant payment infrastructure for cryptocurrencies. It also allows transferring crypto assets between exchanges and helps users save on transaction fees, and eliminate confirmation times. Transfer was founded in 2021 and is headquartered in Middletown, Delaware.
Layerswap is the first and only bridge to enable direct and instant transfers from CEXes to blockchains. On top of that, Layerswap:
LayerSwap is a unique product that converts assets between CEX – Layer2 and between Layer2. It offers three main features: On-ramp, Off-ramp, and Cross-chain.
Layerswap provides a cost-effective solution for transferring assets between CEX and L2. However, the platform will still charge some of the following fees:
Depending on the asset and network the user chooses on Layerswap, the platform will charge about 0.5 – 4 USD per swap.
Some charge exchanges a fee for covering the gas fees of on-chain transfers. After filling in the swap details, you’ll see the applicable fees and comprehensive fee breakdown, as shown below.
Please note that in some cases, Layerswap might not be able to show the exchange fees, and you’d need to check on the exchange.
While transferrin from/to some exchanges, like Binance, the fees are refundable and will be returned to your account after the completion of the transfer. In such cases, you’ll see the “Refundable” note next to the exchange fee amount.
Currently, the project has no information about the token launch.
If you make a significant transaction for fear of risk, you should split the transactions. As you know, any project in the market has the potential to be at risk. Like Hack or the team quit the project… (Read more about LayerSwap’s project team here)
But don’t worry because LayerSwap has also been accepted by Layer 2 as an official bridge. LayerSwap doesn’t have a token yet, so experience it now to receive the airdrop.
A few limitations:
Step 1: Fill in transfer details
In order to swap from an Exchange, start by selecting the exchange and network that you want to transfer between.
Next, you should specify the amount*, select the token, provide your wallet address, and click “Swap now”.
Before finalizing the swap, you’ll need to review and confirm the details. On the review page, you’ll see all the necessary information including source, destination, amount, fee, address, and will need to confirm that you’re the owner of the provided address.
Once you confirm the details, you’ll need to initiate a withdrawal from the exchange account to the address provided by Layerswap. Below we will give an example of withdrawal on Coinbase and Binance
1.On Layerswap’s “Connect your Coinbase account” page, click “Transfer manually”
2. Confirm the swap details
3. In your Coinbase account, click “Send & Receive”
4. Copy the address and amount shown in Layerswap
5. Paste the information in the respective fields on Coinbase and click “Continue”
6. Confirm the details and click “Send now”
7. The transaction will be completed in no time!
Binance
1. In your Binance account, under Profile, select “Fiat and Spot”
3. Select the token you want to transfer
4. Copy the Address provided by Layerswap
5. Paste the provided address in the “Address” field in Binance page
6. Select the withdrawal network to be as specified on Layerswap
8. Enter the amount to be transferred and click “Withdraw”
11. Get the Email Verification and Authenticator Codes, enter them in their respective fields and click “Submit”
13. Your transfer will be completed in no time!
Step 4: Confirmation & Completion
Once the transaction is complete, you’ll see a note confirming that the swap was successful.
To transfer from a network, select the network and exchange that you want to transfer between, provide the exchange account address*, select the token, specify the amount and click “Swap now”.
On the review page, you’ll see the transfer details including source, destination, amount, fee, address, and will need to confirm that you’re the owner of the provided address.
After clicking “Confirm”, Layerswap provides the necessary information for sending assets from the network. You can automatically transfer funds from the connected wallet by clicking “Send from wallet” or send the assets manually from the network account to the deposit address provided by Layerswap. The provided deposit address is being generated for each user by Layerswap. The transaction can’t be completed if you haven’t sent funds to the address.
If you’re transferring from Loopring or ImmutableX, please refer to the guides for a seamless experience.
Step 4: Confirmation & Completion
Once the transaction is complete, you’ll see a note confirming that the swap was successful.
Step 1: Fill in transfer details
Firstly, select the networks that you want to transfer between, specify the amount, select the token, provide the deposit address and click “Swap now”.
Before finalizing the swap, you’ll need to review and confirm the details. On the swap review page, you’ll see all the necessary information including source, destination, amount, fee, address, and will need to confirm that you’re the owner of the provided address.
Here you should click on “Send from wallet” for initiating a transfer from the connected wallet and confirm the transaction in your wallet.
You can also do the transaction without connecting a wallet. For that, you’ll need to manually send funds to the provided deposit address. Follow the steps below for a detailed guidance. Here are manual conversions, you can also switch from Loopring or ImmutableX.
1. You’ll be provided with a deposit address to which you’ll need to send funds.
2. To send from a wallet, sign in and make sure you’re on the right network.
3. Click “Send”, copy and paste the information provided by Layerswap.
4. Confirm the transaction on the wallet.
Step 4: Confirmation & Completion
Once the transaction is complete, you’ll see a note confirming that the swap was successful.
Above is an article on how to use LayerSwap, hoping to help you easily bridge assets to L2 with the best cost and speed. This is a potential project with a unique business model and useful tools for users. With the increasing demand for digital asset conversion on Layer 2 blockchains, LayerSwap promises to receive more attention from the community in the near future.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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